The Governor has demanded Horizon Blue Cross Blue Shield, a non-profit insurance company, fork over $300 million from its reserves to a government program.
The insurance company has objected because of the financial position it would be left in, but Gov. Christie does not care.
Many wonder what is really driving this issue for Christie. Why is the governor hitting a nonprofit healthcare provider with an excellent rating and modest reserves? Sources with firsthand knowledge of the situation tell Judicial Watch that the real story involves New Jersey insurance magnate George E. Norcross, who is chairman of the board of Cooper University Hospital in Camden and owns a piece of AmeriHealth, a small money-losing New Jersey insurer. Norcross is also Executive Chairman of Conner Strong & Buckelew, one of the nation’s premier insurance, risk management and employee benefits brokerage and consulting firms. He’s been trying to force Horizon to buy the ailing AmeriHealth firm, sources tell Judicial Watch, but Horizon has refused. Christie’s former chief of staff, Kevin O’Dowd, works for Norcross at Cooper University Hospital.
Governor Christie has never seemed super irresponsible, but this move is irresponsible. If this is why he is doing it, he is also engaging in some real shenanigans that need to be investigated.